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Jindal Steel Commissions New Furnace, Boosts Capacity

  • Jindal Steel & Power has commissioned a new 3 MTPA Basic Oxygen Furnace at its Angul plant in Odisha, increasing the plant's crude steelmaking capacity from 6 MTPA to 9 MTPA.
  • This significant capacity expansion is synchronized with the commissioning of Blast Furnace 2 and will enhance the company's ability to supply steel to crucial sectors like infrastructure and automotive, contributing to India's self-reliance in steel production.
  • The company aims to further increase the Angul plant's capacity to 12 MTPA within the current financial year.

BHEL Secures Major Orders Worth Over ₹13,000 Crore

  • Bharat Heavy Electricals Limited (BHEL) has won significant orders valued between ₹13,000 crore and ₹15,000 crore from Madhya Pradesh Power Generating Company Ltd. (MPPGCL).
  • The orders are for setting up two supercritical thermal power units, Amarkantak Unit 6 and Satpura Unit 12, each with a capacity of 1x660 MW, under an EPC (Engineering, Procurement, and Construction) agreement.
  • These contracts reaffirm BHEL's leadership position in India's power sector.

BEL Bags Additional Orders of ₹1,092 Crore

  • Navratna Defence PSU Bharat Electronics Limited (BEL) has secured additional orders worth ₹1,092 crore since its last disclosure in mid-September.
  • The new contracts are for the upgrade of EW Systems, enhancement of defence networks, and supply of Tank Sub Systems, TR Modules, and other communication equipment.
  • This influx of orders strengthens BEL's position as a key player in India's defence electronics industry.

Dhruva Advisors and Ryan Form Strategic Joint Venture

  • Indian tax and regulatory firm Dhruva Advisors has entered into a joint venture with Ryan, a global tax services and software provider, with Ryan acquiring a majority stake in Dhruva.
  • As part of the strategic investment, Dinesh Kanabar, CEO of Dhruva Advisors, will become the Vice-Chairman at Ryan.
  • This partnership is expected to expand the service offerings and geographical reach for both firms in India and overseas.

SEALSQ and Kaynes SemiCon to Set Up Joint Venture in India

  • SEALSQ Corp has signed a term sheet with Kaynes SemiCon to form a joint venture in India, named SEALKAYNESQ Ltd.
  • SEALSQ will hold a 51% stake in the new entity, which will focus on establishing a secure semiconductor center for onshore personalization and quantum-resistant technology.
  • This collaboration will create an Outsourced Semiconductor Test & Personalization (OSTP) facility at Kaynes SemiCon's Indian site.

River EV Launches New Electric Scooter and Expands into North India

  • Electric vehicle startup River EV has launched its Indie Gen 3 electric scooter and simultaneously opened its first flagship store in Delhi, marking its entry into the North Indian market.
  • The new scooter features upgrades to its riding dynamics, display, and app integration.
  • The company plans to expand its retail presence to 80 stores nationwide by March 2026.

Generali Group and Central Bank of India Rebrand Joint Venture

  • Generali Group and Central Bank of India have unveiled a new brand identity for their insurance joint venture.
  • The life insurance arm will be known as Generali Central Life Insurance, and the general insurance business will be called Generali Central Insurance.
  • This rebranding reflects the partnership between Generali's global expertise and the Central Bank of India's domestic trust.

Blue Dart Express Sees Significant Bulk Deal Activity

  • Logistics company Blue Dart Express Ltd. was active in the bulk deal segment on the National Stock Exchange.
  • A total of 120,308 shares of the company were traded at an average price of ₹5,945.05.

LG Electronics India IPO to Open on October 7

  • The initial public offering (IPO) of LG Electronics' Indian subsidiary will open for subscription on October 7.
  • The South Korean parent company will sell a 15% stake in its Indian arm through this IPO.

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